4x4 light blinks on and off but won't engage into 4x4. Thoughts ?

 

Flashing 4WD lights usually means a fuse is blown.

Check engine fuse box for a blown 20amp fuse

Can also mean 4x4 module is bad, it is just 2 relays in a box in dash
Or Shift motor in the transfer case is bad.

Read here: Ford Ranger 4WD Control Module 1995 - Up